Mutual funds are classified as load or no-load funds. Loadfunds require an investor to pay an initial fee based on apercentage of the amount invested in the fund. the no-load funds donot require this initial fee. some financial advisors argue thatthe load mutual funds may be worth the extra fee because thesefunds provide a higher mean rate of return than the no-load mutualfunds. A sample of 30 load mutual funds and a sample of 30 no-loadmutual funds were selected. data were collected on the annualreturn for the funds over a 5 year period. The data are containedin the data set mutual. The data for the first five load and firstfive no-load mutual funds are as follows. MutualFunds-Load Return Mutual funds- No Load Return
American National Growth 15.51 Amana IncomeFund 13.24
Arch Small CapEquity 14.57 Berger OneHundred 12.13
Barlett CapBasic 17.73 Columbia Int. Stock 12.17
Calvert WorldInternational 10.31 Dodge & Cox Balanced 16.06
Colonial FundA 16.23 EvergreenFund 17.61
a. Formulate H0and Ha such that rejection ofH0 leads to the conclusion that the loadmutual funds have a higher mean annual return over the five- yearperiod.
b. Use the 60 mutual funds in the data setMutual to conduct the hypothesis test. What is the p-value? At a =.05, what is your conclusion?